As I write this the sun is out and most of the clouds seem to be dissipating and we are promised a beautiful weekend. I certainly hope so; as much as we needed the rain, I'm really ready to feel some sunshine and warmer temperatures. Not to mention how nice it would be to walk my dogs without having to put on rain gear and mud boots! I read somewhere that while the calendar says May the weather feels like February - I can't agree more. I had a fire going last night even. I'm headed to Sacramento for the weekend - the Sacramento Jazz Festival - and at least there I should get the sun and warmth for which I'm longing.
I ran some statistics this morning and thought I'd share those. Year to date, Anderson Valley has had six residential and six land sales (there are currently no pending sales). Except for one sale ($6,000,000) the sales were between $213,000 and $480,000. Most sales (7of the 12) were in the mid-to-high $300,000's. The average days on market for land was 75 days; for residential it was 100 days. The $6,000,000 sale is the exception as it was on for 514 days and I excluded this as it would have skewed the data too much. The difference between list price and sales price was, on average, $22,500 under the asking price for residential sales; for land sales the average was nil - the land that went for over asking canceled out the land that went for under asking. What that means to me is that when a piece of property is priced right it spends less time on the market and is likely to sell for close to the asking price and that, with these properties at least, sellers are finding the market where buyers are looking. This information is based on sales reported in Bay Area Real Estate
Information Services, Inc. (BAREIS) and is not verified and is subject to change.
Listings represented may not have been listed or sold by me, Anne Fashauer, Century 21 Seascape Realty.
On the coast, from Elk to north of Westport, there have been 41 land and residential sales year to date (only five were land sales so I've lumped them all together for statistical purposes). Six were under $200,000, 12 between $200,000 and $300,000, eight between $300,000 and $400,000, seven between $400,000 and $500,000, three between $500,000 and $600,000, four between $600,000 and $700,000 and just one over $700,000. As you can see, the lower end is what is moving. The average days on market for these was 181 days. The difference in asking price versus selling price changes as you go up in asking price - between $100,000 and $400,000 the difference was $17,000 under asking; between $400,000 and $600,000 the difference was $20,000 less and between $600,000 and $800,000 the difference was much larger - $81,000 less on average. What this tells me is that property on the coast is still dropping in price - and as it does, buyers are ready to purchase. These statistics are based on sold listings from the Coastal Mendocino Association of REALTORS® MLS for the period 1/1/10 through 5/28/10 . Sales may not necessarily be transactions of this office.
I hope everyone enjoys the Memorial Day weekend!